exv10w1






Exhibit 10.1




REGISTRATION RIGHTS AGREEMENT




     THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of this 15th day of
December, 2009 by and among ViaSat, Inc., a Delaware corporation (“Parent”), and certain persons
listed on Schedule A hereto (such persons, in their capacity as holders of Registrable
Securities, the “Holders” and each the “Holder”).



RECITALS




     WHEREAS, Parent, Aloha Merger Sub, Inc., a Delaware corporation (“Merger Sub”) and a wholly
owned subsidiary of Parent, and WildBlue Holding, Inc., a Delaware corporation (the “Company”),
have entered into that certain Agreement and Plan of Merger, dated as of September 30, 2009 (as the
same may be amended or supplemented from time to time, the “Merger Agreement”), pursuant to which
Merger Sub shall be merged with and into the Company and the separate corporate existence of Merger
Sub shall cease and the Company shall continue as the surviving corporation. Capitalized terms
used but not defined herein have the meanings attributed thereto in the Merger Agreement.



     WHEREAS, as more fully described in the Merger Agreement, at the Effective Time, outstanding
shares of the Company’s capital stock and certain of the Company’s outstanding indebtedness is
being converted into the right to receive cash, notes and/or shares of common stock, par value
$0.0001 per share, of Parent (the “Shares”), on the terms and conditions set forth in the Merger
Agreement.



     WHEREAS, Parent desires to enter into this Agreement with the Holders in order to grant the
Holders the registration rights contained herein.



     NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants
contained in this Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:



     Section 1. Definitions. As used in this Agreement, the following terms shall have the
following meanings:



     “Board” shall mean the Board of Directors of Parent.



     “Delaware Court” shall have the meaning set forth in Section 8d herein.



 









 





     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended (or any
corresponding provision of succeeding law) and the rules and regulations thereunder.



     “Lock-up Agreement” shall mean those certain Lock-up Agreements dated as of the date hereof
entered into by recipients of Shares as a portion of the Aggregate Merger Consideration.



     “Piggyback Registration” shall have the meaning set forth in Section 3a herein.



     “Piggyback Registration Statement” shall have the meaning set forth in Section 3a herein.



     “Registrable Securities” shall mean the Shares acquired by the Holders at the Closing as well
as any of Parent’s securities which may be issued or distributed by way of stock split, dividend,
recapitalization or reclassification in respect of such Shares; provided, however,
such Registrable Securities shall cease to be Registrable Securities when (i) a registration
statement with respect to the sale of such Registrable Securities shall have become effective under
the Securities Act and such Registrable Securities shall have been disposed of in accordance with
such registration statement; (ii) such Registrable Securities shall have been sold in accordance
with Rule 144 (or any successor provision) under the Securities Act in a transaction where the
restrictive legend is removed from such Shares; or (iii) such Registrable Securities have ceased to
be outstanding.



     “Registration Default” shall have the meaning set forth in Section 7 herein.



     “Registration Expenses” shall mean all expenses incurred in effecting any registration
pursuant to this Agreement (including a Shelf Registration Statement and a Piggyback Registration
Statement), including registration, qualification, listing and filing fees (including, without
limitation, all SEC and FINRA filing fees), printing expenses, transfer agent’s and registrar’s
fees and expenses, fees and disbursements of counsel for Parent and all accountants and other
persons retained by Parent, and blue sky (and other securities laws) fees and expenses associated
with any registration statement, as well as all internal fees and expenses of Parent.



     “Securities Act” shall mean the Securities Act of 1933, as amended (or any successor
corresponding provision of succeeding law), and the rules and regulations thereunder.



     “Selling Expenses” shall mean all underwriting discounts, selling commissions, stock transfer
taxes, fees and disbursements of counsel for the Holders, and other selling expenses associated
with effecting any sales of Registrable Securities under any registration statement which are not
included as Registration Expenses.



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     “Shelf Registration Statement” shall have the meaning set forth in Section 2a herein.



     Section 2. Shelf Registration.



          a. Shelf Registration. Parent agrees to use commercially reasonable efforts to file
with the SEC a registration statement under the Securities Act for the offering on a continuous or
delayed basis in the future covering resales of the Registrable Securities (the “Shelf Registration
Statement”), such filing to be made on an appropriate form (Form S-3 if then available) as soon as
reasonably practicable after the Closing Date but not later than the date which is thirty (30) days
after the Closing Date. Parent shall use commercially reasonable efforts to cause the Shelf
Registration Statement to be declared effective by the SEC as soon as practicable thereafter.




          b. Effectiveness. Parent shall use commercially reasonable efforts to keep the Shelf
Registration Statement continuously effective for the period beginning on the date on which the
Shelf Registration Statement is declared effective and ending on the earlier of (i) the date that
all of the Registrable Securities registered under the Shelf Registration Statement cease to be
Registrable Securities and (ii) the two (2) year anniversary of the original effective date of the
Shelf Registration Statement, subject to the extension provisions provided for in Section 4(b)
herein.




     Section 3. Piggyback Registration Rights




           a.
Right to Piggyback. At any time (i) during the period beginning on the Closing Date and ending on the date on which
the Shelf Registration Statement is declared effective and (ii) during the period of any outstanding Registration Default under
Section 7(b), whenever Parent proposes to publicly sell in an underwritten offering or register for sale any of its common stock
in an underwritten registration pursuant to a registration statement
(a “Piggyback Registration Statement”) under the Securities Act (other than a registration statement on Form S-8 or Form S-4, or, in each case, pursuant to
any similar successor forms thereto), whether for its own account or
for the account of one or more security holders of Parent (a “Piggyback Registration”), Parent shall give written notice to each Holder at least ten (10) days prior to the initial filing of such Piggyback Registration Statement or the date of the commencement of any such offering of its
 intention to effect such sale or registration and, subject to Sections 3b and 3c herein, shall include in such Piggyback Registration Statement all Registrable Securities with respect to which Parent has received a written request from Holders. A Holder’s right to participate in any Piggyback Registration shall be conditioned on the Holder entering into an underwriting agreement in customary form and acting in accordance with the terms and conditions thereof.




          b. Priority on Primary Registrations. If a Piggyback Registration is initiated as an
underwritten primary registration on behalf of Parent, and the managing underwriter advises Parent
that in its reasonable opinion the number of equity securities requested to be included in such
registration exceeds the number that can be sold in such offering without having an adverse effect
on such offering, including the price at which such equity securities can be sold, then Parent
shall include in such registration the maximum number of shares that such underwriter advises can
be so sold without having such adverse effect, allocated (i) first, to the





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equity securities Parent proposes to sell, (ii) second, among Holders that request to be
included in such Piggyback Registration, pro rata among the Holders on the basis of the percentage
of the then outstanding shares requested to be registered by them or on such basis as the Holders
may otherwise agree among themselves and Parent, and (iii) third, among other security holders of
Parent, pro rata among such holder(s) on the basis of the percentage of the then outstanding shares
requested to be registered by them or on such basis as such holder(s) may agree among themselves
and Parent. Notwithstanding the foregoing, in the event the Piggyback Registration is to be
effected during the time of an outstanding Registration Default, then the Holders shall have the
same priority in any cut back as Parent.




          c. Priority on Secondary Registrations. If a Piggyback Registration is initiated as a
secondary underwritten registration on behalf of a holder of Parent’s securities other than a
Holder, and the managing underwriter advises Parent that in its reasonable opinion the number of
securities requested to be included in such registration exceeds the number that can be sold in
such offering without having an adverse effect on such offering, including the price at which such
securities can be sold, then Parent shall include in such registration the maximum number of shares
that such underwriter advises can be so sold without having such adverse effect, allocated (i)
first, to the securities requested to be included therein by the holder(s) requesting such
registration, (ii) second, among Holders that request to be included in such Piggyback
Registration, pro rata among the Holders on the basis of the percentage of the then outstanding
shares requested to be registered by them or on such basis as the Holders may otherwise agree among
themselves and Parent, and (iii) third, among Parent and other security holders of Parent, pro rata
among such holder(s) and Parent on the basis of the percentage of the shares requested to be
registered by them or on such basis as such holder(s) may agree among themselves and Parent.




     Section 4. Registration Procedures.



          a. In connection with the filing of any registration statement pursuant to this Agreement
(including any Shelf Registration Statement or Piggyback Registration Statement), Parent shall use
commercially reasonable efforts to, as promptly as reasonably practicable:





          (i) prepare and file with the SEC the requisite registration statement (including a
prospectus therein and any supplement thereto) to effect such registration and use
commercially reasonable efforts to cause such registration statement to become effective,
and before filing such registration statement or any amendments or supplements thereto,
provide to one representative on behalf of all Holders included in such registration
statement (to be chosen by Holders of a majority of Registrable Securities to be included in
such registration statement) and any managing underwriter(s), copies of all such documents
proposed to be filed or furnished and the representative and the managing underwriter(s)
shall have the opportunity to review and comment thereon, and Parent will make such changes
and additions thereto as may reasonably be requested by the representative and the managing
underwriter(s) prior to such filing, unless Parent reasonably objects to such changes or
additions;




          (ii) prepare and file with the SEC (subject to the review and comment provisions set
forth in Section 4(a)(i) above) such amendments and supplements to such



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registration statement and the prospectus used in connection therewith as may be
necessary to maintain the effectiveness of such registration and to comply with the
provisions of the Securities Act with respect to the disposition of all securities covered
by such registration statement during the period in which such registration statement is
required to be kept effective;




          (iii) furnish to each Holder of the securities being registered and any managing
underwriter(s) without charge, such number of conformed copies of such registration
statement and of each such amendment and supplement thereto (in each case including all
exhibits other than those which are being incorporated into such registration statement by
reference and that are publicly available), such number of copies of the prospectus
contained in such registration statement and any other prospectus filed under Rule 424 under
the Securities Act in conformity with the requirements of the Securities Act, and such other
documents, as the Holders and any managing underwriter(s) may reasonably request;




          (iv) register or qualify all Registrable Securities under such other securities or
“blue sky” laws of such jurisdictions as the Holders and any managing underwriter(s) may
reasonably request, except that Parent shall not for any such purpose be required to qualify
generally to do business as a foreign company or to register as a broker or dealer in any
jurisdiction where it would not otherwise be required to qualify but for this Section
4(a)(iv), or to consent to general service of process in any such jurisdiction, or to be
subject to any material tax obligation in any such jurisdiction where it is not then so
subject;




          (v) promptly notify the Holders and any managing underwriter(s) at any time when Parent
becomes aware that a prospectus relating thereto is required to be delivered under the
Securities Act, of the happening of any event as a result of which the prospectus included
in such registration statement, as then in effect, includes an untrue statement of a
material fact or omits to state any material fact required to be stated therein or necessary
to make the statements therein not misleading in light of the circumstances under which they
were made, and promptly prepare and furnish to the Holders and any managing underwriter(s) a
reasonable number of copies of a supplement to or an amendment of such prospectus as may be
necessary so that, as thereafter delivered to the purchasers of such securities, such
prospectus shall not include an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not
misleading in the light of the circumstances under which they were made;




          (vi) provide a transfer agent and registrar for all Registrable Securities covered by
such registration statement not later than the effective date of such registration
statement;




          (vii) cooperate with the Holders and any managing underwriter(s) to facilitate the
timely preparation and delivery of certificates representing Registrable Securities to be
sold, and enable certificates for such Registrable Securities to be issued



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for such number of shares and registered in such names as the Holders and any managing
underwriter(s) may reasonably request;




          (viii) list all Registrable Securities covered by such registration statement on any
securities exchange on which any such class of securities is then listed and cause to be
satisfied all requirements and conditions of such securities exchange to the listing of such
securities that are reasonably within the control of Parent;




          (ix) in connection with any sale, transfer or other disposition by any Holder of any
Registrable Securities pursuant to Rule 144 promulgated under the Securities Act, cooperate
with such Holder to facilitate the timely preparation and delivery of certificates
representing the Registrable Securities to be sold, and enable certificates for such
Registrable Securities to be issued for such number of shares and registered in such names
as the Holders may reasonably request;




          (x) notify each Holder and any managing underwriter(s), promptly after it shall receive
notice thereof, of the time when such registration statement, or any post-effective
amendments to the registration statement, shall have become effective;




          (xi) make available to each Holder whose Registrable Securities are included in such
registration statement and any managing underwriter(s) as soon as reasonably practicable
after the same is prepared and publicly distributed, filed with the SEC, or received by
Parent, an executed copy of each letter written by or on behalf of Parent to the SEC or the
Staff of the SEC (or other governmental agency or self-regulatory body or other body having
jurisdiction, including any domestic or foreign securities exchange), and each item of
correspondence from the SEC or the Staff of the SEC (or other governmental agency or
self-regulatory body or other body having jurisdiction, including any domestic or foreign
securities exchange), in each case relating to such registration statement. Parent will as
soon as reasonably practicable notify the Holders and any managing underwriter(s) of the
effectiveness of such registration statement or any post-effective amendment or the filing
of the prospectus supplement contemplated herein. Parent will as soon as reasonably
practicable respond to any and all comments received from the SEC or the Staff of the SEC,
with a view towards causing such registration statement or any amendment thereto to be
declared effective by the SEC as soon as reasonably practicable and shall file an
acceleration request as soon as reasonably practicable following the resolution or clearance
of all SEC comments or, if applicable, following notification by the SEC that any such
registration statement or any amendment thereto will not be subject to review;




          (xii) advise each Holder and any managing underwriter(s), promptly after it shall
receive notice or obtain knowledge thereof, of (A) the issuance of any stop order,
injunction or other order or requirement by the SEC suspending the effectiveness of such
registration statement or the initiation or threatening of any proceeding for such purpose
and use commercially reasonable efforts to prevent the issuance of any stop order,
injunction or other order or requirement or to obtain its withdrawal if such stop order,
injunction or other order or requirement should be issued, (B) the suspension of the
registration of the subject shares of the Registrable Securities in any state jurisdiction
and




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(C) the removal of any such stop order, injunction or other order or requirement or
proceeding or the lifting of any such suspension;




          (xiii) in the case of an underwritten offering, make available for inspection by the
Holder(s) whose Registrable Securities are included in such registration statement and any
managing underwriter(s), and any attorney, accountant or other agent retained by any such
Holder or underwriters, at reasonable times and in a reasonable manner, all pertinent
financial and other records, corporate documents and properties of Parent, and cause
Parent’s officers, directors and employees to supply all information reasonably requested by
any such Holder, sales or placement agent, underwriter, attorney, accountant or agent to
conduct a reasonable investigation within the meaning of Section 11 of the Securities Act in
connection with such registration statement; provided that the foregoing
investigation and information gathering shall be coordinated on behalf of such parties by
one firm of counsel designated by and on behalf of such parties;




          (xiv) if requested by any Holder of Registrable Securities named in such registration
statement or any managing underwriter(s), promptly incorporate in a prospectus supplement or
post-effective amendment such information as such Holder or managing underwriter(s)
reasonably requests to be included therein, including, without limitation, with respect to
the Registrable Securities being sold by such Holder, the purchase price being paid therefor
by any underwriters and with respect to any other terms of an underwritten offering of the
Registrable Securities to be sold in such offering, and promptly make all required filings
of such prospectus supplement or post-effective amendment;




          (xv) cooperate with each Holder and any managing underwriter(s) participating in the
disposition of such Registrable Securities and their respective counsel in connection with
any filings required to be made with the Financial Industry Regulatory Authority;




          (xvi) in the case of an underwritten offering, (A) enter into such customary agreements
(including an underwriting agreement in customary form), (B) take all such other actions as
the managing underwriter(s) reasonably request in order to expedite or facilitate the
disposition of such Registrable Securities (including, without limitation, causing senior
management and other Parent personnel to reasonably cooperate with the Holder(s) whose
Registrable Securities are included in a registration statement and the underwriter(s) in
connection with performing due diligence) and (C) use commercially reasonable efforts to
cause its counsel to issue opinions of counsel addressed and delivered to the underwriter(s)
in form, substance and scope as are customary in underwritten offerings, subject to
customary limitations, assumptions and exclusions; and




          (xvii) if requested by the managing underwriter(s) of an underwritten offering, use
commercially reasonable efforts to cause to be delivered, upon the pricing of any
underwritten offering, and at the time of closing of a sale of Registrable Securities
pursuant thereto, “comfort” letters from Parent’s independent registered public accountants
addressed to the underwriter(s) stating that such accountants are independent



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public accountants within the meaning of the Securities Act and the applicable rules
and regulations adopted by the SEC thereunder, and otherwise in customary form and covering
such financial and accounting matters as are customarily covered by “comfort” letters of the
independent registered public accountants delivered in connection with primary underwritten
public offerings.



          b. As a condition precedent to the obligations of Parent to file any registration statement
covering Registrable Securities, each Holder shall furnish in writing to Parent such information
regarding such Holder (and any of its Affiliates), the Registrable Securities to be sold, the
intended method of distribution of such Registrable Securities and such other information requested
by Parent as is reasonably necessary or advisable for inclusion in the registration statement
relating to such offering pursuant to the Securities Act. Such writing shall expressly state that
it is being furnished to Parent for use in the preparation of a registration statement, preliminary
prospectus, supplementary prospectus, final prospectus or amendment or supplement thereto, as the
case may be.




          Each Holder agrees by acquisition of the Registrable Securities that (i) upon receipt of any
notice from Parent of the happening of any event of the kind described in Section 4(a)(v), such
Holder shall forthwith discontinue its disposition of Registrable Securities pursuant to the
registration statement relating to such Registrable Securities until such Holder’s receipt of the
copies of the supplemented or amended prospectus contemplated by Section 4(a)(v); (ii) upon receipt
of any notice from Parent of the happening of any event of the kind described in clause (A) of
Section 4(a)(xii), such Holder shall discontinue its disposition of Registrable Securities pursuant
to such registration statement until such Holder’s receipt of the notice described in clause (C) of
Section 4(a)(xii); and (iii) upon receipt of any notice from Parent of the happening of any event
of the kind described in clause (B) of Section 4(a)(xii), such Holder shall discontinue its
disposition of Registrable Securities pursuant to such registration statement in the applicable
state jurisdiction(s) until such Holder’s receipt of the notice described in clause (C) of Section
4(a)(xii). The length of time that any registration statement is required to remain effective
shall be extended by any period of time that such registration statement is unavailable for use
pursuant to this paragraph.




     Section 5. Indemnification.



          a. Indemnification by Parent. Parent agrees to indemnify and hold harmless each
Holder, its partners, officers, directors, employees, advisors, representatives and agents, and
each Person, if any, who controls such Holder within the meaning of the Securities Act or the
Exchange Act, against any losses, liabilities, claims, damages and expenses (including, without
limitation, reasonable attorneys’ fees and expenses and reasonable costs of investigation), to
which the Holders or any such indemnitees may become subject under the Securities Act or otherwise,
insofar as such losses, liabilities, claims, damages and expenses (or actions or proceedings,
whether commenced or threatened, in respect thereof) arise out of or are based upon any untrue
statement or alleged untrue statement of any material fact contained in the registration statement
under which such Registrable Securities were registered and sold under the Securities Act, any
preliminary prospectus, final prospectus or summary prospectus contained therein, or any amendment
or supplement thereto, or arising out of or based upon any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the




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statements therein, in light of the circumstances under which they were made, not misleading
or any violation of the Securities Act or state securities laws or rules thereunder by Parent
relating to any action or inaction by Parent in connection with such registration;
provided, however, that Parent shall not be liable in any such case to the extent
that any such loss, liability, claim, damage (or action or proceeding in respect thereof) or
expense arises out of or is based upon an untrue statement or alleged statement or omission or
alleged omission made in such registration statement, any such preliminary prospectus, final
prospectus, summary prospectus, amendment or supplement in reliance upon and in conformity with
written information about a Holder which is furnished to Parent by such Holder specifically for use
in such registration statement; and provided, further, that Parent shall not be
liable to the Holder or any other Person who controls such Holder within the meaning of the
Securities Act or the Exchange Act in any such case to the extent that any such loss, liability,
claim, damage (or action or proceeding in respect thereof) or expense arises out of such Person’s
failure to send or give a copy of the final prospectus or supplement to the Persons asserting an
untrue statement or alleged untrue statement or omission or alleged omission at or prior to the
time of sale of Registrable Securities to such Person if such statement or omission was corrected
in such final prospectus or supplement.




          b. Indemnification by the Holders. Each Holder agrees to indemnify and hold harmless
(in the same manner and to the same extent as set forth in Section 5(a)) Parent, each member of the
Board, each officer, employee and agent of Parent and each other Person, if any, who controls any
of the foregoing within the meaning of the Securities Act or the Exchange Act, with respect to any
untrue statement or alleged untrue statement of a material fact in or omission or alleged omission
to state a material fact from such registration statement, any preliminary prospectus, final
prospectus or summary prospectus contained therein, or any amendment or supplement thereto, if such
untrue statement or alleged untrue statement or omission or alleged omission was made in reliance
upon and in conformity with written information about such Holder furnished to Parent by such
Holder specifically for use in such registration statement, preliminary prospectus, final
prospectus, summary prospectus, amendment or supplement; provided, however, that
Holder shall not be liable for any amounts in excess of the net proceeds received by such Holder
from sales of Registrable Securities pursuant to the registration statement to which the claims
relate; and provided, further, that the obligations of the Holders shall be several
and not joint and several.




          c. Notices of Claims, etc. Promptly after receipt by an indemnified party of notice
of the commencement of any action or proceeding involving a claim referred to in the preceding
paragraphs of this Section 5, such indemnified party shall, if a claim in respect thereof is to be
made against an indemnifying party, give written notice to the latter of the commencement of such
action; provided, however, that the failure of any indemnified party to give notice
as provided herein shall not relieve the indemnifying party of its obligations under the preceding
paragraphs of this Section 5, except to the extent that the indemnifying party is materially
prejudiced by such failure to give notice. In case any such action is brought against an
indemnified party, unless in such indemnified party’s reasonable judgment a conflict of interest
between such indemnified and indemnifying parties exists with respect to such claim, the
indemnifying party shall be entitled to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party; provided, however, that any person entitled
to indemnification hereunder shall have the right to employ separate counsel and to participate in
the defense of such claim, but the fees and expenses of such counsel shall be at the expense of




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such person unless (i) the indemnifying party has agreed to pay such fees or expenses or (ii)
the indemnifying party shall have failed to assume the defense of such claim and employ counsel
reasonably satisfactory to such person. If such defense is not assumed by the indemnifying party
as permitted hereunder, the indemnifying party will not be subject to any liability for any
settlement made by the indemnified party without its consent (but such consent will not be
unreasonably withheld, conditioned or delayed). If such defense is assumed by the indemnifying
party pursuant to the provisions hereof, such indemnifying party shall not settle or otherwise
compromise the applicable claim unless (A) such settlement or compromise contains a full and
unconditional release of the indemnified party or (B) the indemnified party otherwise consents in
writing (which consent will not be unreasonably withheld, conditioned or delayed). An indemnifying
party who is not entitled to, or elects not to, assume the defense of a claim will be obligated to
pay the reasonable fees and expenses of not more than one counsel (plus local counsel to the extent
reasonably necessary to defend against such claim) for all parties indemnified by such indemnifying
party with respect to such claim.




     The indemnification provided for under this Agreement shall remain in full force and effect
regardless of any investigation made by or on behalf of the indemnified party and shall survive the
transfer of securities.



          d. Contribution. If, for any reason, the foregoing indemnity is unavailable, or is
insufficient to hold harmless an indemnified party, then the indemnifying party shall contribute to
the amount paid or payable by the indemnified party as a result of the loss, claim, damage or
expense in such proportion as is appropriate to reflect the relative fault of the indemnifying
party and the indemnified party, and the relative benefits received by the indemnifying party and
the indemnified party, as well as any other relevant equitable considerations. No indemnified
party guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any indemnifying party who was not guilty of such
fraudulent misrepresentation. The relative fault of the indemnifying party on the one hand and of
the indemnified party on the other shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information supplied by the indemnifying party or by the
indemnified party, and by such party’s relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. Notwithstanding the provisions of
this Section, no Holder shall be required to contribute an amount greater than the net proceeds
received by such Holder from sales of Registrable Securities pursuant to the registration statement
to which the claims relate.




     Section 6. Covenants Relating To Rule 144. Parent shall use commercially reasonable efforts
to file any reports required to be filed by it under the Securities Act and the Exchange Act and to
take such further action as any Holder may reasonably request, all to the extent required from time
to time to enable Holders to sell Registrable Securities without registration under the Securities
Act within the limitation of the exemptions provided by Rule 144 under the Securities Act, as such
rule may be amended from time to time.



     Section 7. Registration Default. If (a) the Shelf Registration Statement is not filed with
the SEC on or prior to the date which is thirty (30) days following the Closing Date or (b) the
Shelf Registration Statement is filed and declared effective but shall thereafter cease to be




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effective (at any time that Parent is obligated to maintain the effectiveness thereof) without
being again effective within thirty (30) days or being succeeded within thirty (30) days by an
additional registration statement filed and declared effective or immediately effective, a
“Registration Default” shall be deemed to have occurred. Upon the occurrence of a Registration
Default, the Limited Sales Period (as such term is defined in the Lock-up Agreement) shall be
decreased by three (3) days for each day that lapses (including the date upon which the
Registration Default occurs and including the date upon which the Registration Default is cured)
until such Registration Default is cured.




     Section 8. Miscellaneous.



          a. Other Registrations. Parent shall not enter into any agreement with respect to its
equity securities that adversely affects the priorities of the Holders in the event of an
underwriter cut-back as set forth in Sections 3b and 3c herein.



          b. Termination; Survival. The rights of each Holder under this Agreement shall
terminate upon the earlier of (i) the date that all of the Registrable Securities held by such
Holder cease to be Registrable Securities and (ii) the two (2) year anniversary of the original
effective date of the Shelf Registration Statement, subject to the extension provisions provided
for in Section 4b herein. Notwithstanding the foregoing, the obligations of the parties under
Section 5 and this Section 8 shall survive the termination of this Agreement.



          c. Governing Law. This Agreement and any dispute, controversy or claim, whether
sounding in contract or tort, arising out of or relating to this Agreement, shall be governed by
and construed in accordance with the Laws of the State of Delaware without regard to its principles
of conflict of laws that could mandate the application of the laws of another jurisdiction.



          d. Consent to Jurisdiction; Venue. Each party hereto irrevocably submits to the
exclusive jurisdiction of the Court of Chancery of the State of Delaware and any state appellate
court within the state of Delaware or, in the event that exclusive jurisdiction is vested with
regard to any claim in the federal courts, any federal court sitting in the State of Delaware (any
such court, a “Delaware Court”), for the purposes of any suit, action or other proceeding arising
out of this Agreement or any transaction contemplated hereby. Each party irrevocably and
unconditionally waives any objection to the laying of venue of any action, suit or proceeding
arising out of this Agreement or the transactions contemplated hereby in a Delaware Court, and
hereby and thereby further irrevocably and unconditionally waives and agrees not to plead or claim
in any such court that any such action, suit or proceeding brought in any such court has been
brought in an inconvenient forum.



          e. Entire Agreement. This Agreement constitutes the entire agreement between the
parties with respect to the subject matter contained herein, and it supersedes all prior and
contemporaneous agreements, representations and understandings of the parties, express or implied,
oral or written.



          f. Amendments and Waivers. The provisions of this Agreement may be amended or waived
at any time only by the written agreement of Parent and the Holders of a



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majority of the
Registrable Securities then outstanding. Any waiver, permit, consent or approval of any kind or
character on the part of any such Holders of any provision or condition of this Agreement must be
made in writing and shall be effective only to the extent specifically set forth in writing. Any
amendment or waiver affected in accordance with this paragraph shall be binding upon Parent and
each Holder of Registrable Securities. Notwithstanding the foregoing, no amendments may be made to
this Agreement that adversely affect any Holder in a manner different than any other Holder without
such Holder’s prior written consent. Notwithstanding anything to the contrary contained herein, no
provision of this Agreement may be waived or modified without the prior written consent of each of
Liberty Satellite, LLC, Intelsat USA Sales Corp., National Rural Telecommunications Cooperative and
Tennenbaum Opportunities Partners V, LP, or in each case, their assignee; provided that the
foregoing consent right shall automatically terminate with respect to an entity at such time, if
any, that such entity, together with its Affiliates, no longer owns at least fifty percent (50%) of
the Registrable Securities acquired by such entity at the Closing.




          g. Assignment. Except as set forth herein, the rights and obligations of a Holder
under this Agreement shall not be assignable by such Holder without prior, express written consent
of the Company. Notwithstanding the foregoing, the rights and obligations of any Holder may be
assigned to any transferee permitted to receive Shares pursuant to the Lock-up Agreement. The
rights and obligations of Parent under this Agreement shall not be assignable by Parent without the
consent of Holders of a majority of Registrable Securities then outstanding.



          h. Binding Effect. This Agreement shall be binding upon, and inure to the benefit of,
the legal representatives, heirs, successors and assigns of the respective parties.



          i. Expenses. All Registration Expenses incurred in connection with any registration
statement under this Agreement shall be borne by Parent. All Selling Expenses relating to
securities registered on behalf of the Holders shall be borne by the Holders of the Registrable
Securities included in such registration. The obligation of Parent to bear the expenses provided
for in this paragraph shall apply irrespective of whether a registration statement becomes
effective, is withdrawn or suspended, or converted to any other form of registration and
irrespective of when any of the foregoing shall occur.



          j. Counterparts. This Agreement may be executed in one or more counterparts
(including by facsimile), all of which shall be considered one and the same agreement, and shall
become effective when one or more counterparts have been signed by each of the parties to this
Agreement. Electronic or facsimile signatures shall be deemed to be original signatures.



          k. Severability. The parties agree that if any part, term or provision of this
Agreement shall be found invalid, illegal or unenforceable in any respect by any court of law of
competent jurisdiction, the remaining provisions shall be severable, valid and enforceable in
accordance with their terms, and any such invalidity, illegality or unenforceability in any
jurisdiction shall not invalidate or render illegal or unenforceable such provision in any
other jurisdiction.



12









 





          l. Notices. Notice from a party to another party hereto relating to this Agreement
shall be deemed effective if made in writing and delivered to the recipient’s address or telecopy
number set forth below by any of the following means: (i) hand delivery, (ii) registered or
certified mail, postage prepaid, with return receipt requested, (iii) Federal Express, Airborne
Express, or like nationally recognized overnight courier service that provides proof of delivery,
or (iv) facsimile with a confirmation and followed by regular mail delivery of a copy thereof.
Notice made in accordance with this paragraph shall be deemed delivered on receipt if delivered by
hand or transmission if sent by telecopy with a confirmation of transmission, on the third Business
Day after mailing if mailed by registered or certified mail, or the next Business Day after deposit
with an overnight courier service if delivered for next day delivery.



          If to a Holder, to the address indicated for such Holder in Schedule A hereto.



          If to Parent, as follows:


ViaSat, Inc.

6155 El Camino Real

Carlsbad, CA 92009

Attn: Keven K. Lippert, Vice President and General Counsel

Fax: 760-929-3926



With a copy to (which shall not constitute notice):



Latham & Watkins LLP

12636 High Bluff Drive, Suite 400

San Diego, CA 92130

Attn: Craig M. Garner

Fax: 858-523-5450




          Any party may, from time to time, by written notice to the other parties, designate a
different address, which shall be substituted for the one specified above for such party.



          m. Specific Performance. The parties agree that irreparable damage may occur in the
event that any of the provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached. Accordingly, the parties shall be entitled to seek an
injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the
terms and provisions of this Agreement, in addition to any other remedy to which they are entitled
at law or in equity.



          n. No Waiver. No failure or delay by any party in exercising any right, power or
privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise
thereof preclude any other or further exercise thereof or the exercise of any other right,
power or privilege. The rights and remedies herein provided shall be cumulative and not
exclusive of any rights or remedies provided by law.



13









 





[Signatures Appear on the Following Page]





14












 







     IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the date
first written above.



	 	 	 	 	 
	 	PARENT:




VIASAT, INC.

 	 
	 
	 	By:  	/s/ Keven K. Lippert
 	 
	 	 	Name:  	Keven K. Lippert 	 
	 	 	Title:  	Vice President
General Counsel
Secretary 	 




[REGISTRATION RIGHTS AGREEMENT]


 









 






	 	 	 	 	 



	 	 	 	 	 
	 	HOLDERS:



LIBERTY SATELLITE, LLC

 	 
	 
	 	By:  	/s/ Mark D. Carleton
 	 
	 	 	Name:  	Mark D. Carleton 	 
	 	 	Title:  	Senior Vice President 	 





[REGISTRATION RIGHTS AGREEMENT]

 









 











	 	 	 	 	 
	 	INTELSAT USA SALES CORP.

 	 
	 
	 	By:  	/s/ Kurt Reigelman
 	 
	 	 	Name:  	Kurt Reigelman 	 
	 	 	Title:  	Vice President 	 




[REGISTRATION RIGHTS AGREEMENT]

 












 





	 	 	 	 	 
	 	NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE

 	 
	 
	 	By:  	/s/ BR Phillips, III
 	 
	 	 	Name:  	BR Phillips, III 	 
	 	 	Title:  	President and CEO 	 



[REGISTRATION RIGHTS AGREEMENT]




 









 








	 	 	 	 	 
	 	KPCB HOLDINGS INC., as nominee

 	 
	 
	 	By:  	/s/ Russell Siegelman
 	 
	 	 	Name:  	Russell Siegelman 	 
	 	 	Title:  	Vice President 	 



[REGISTRATION RIGHTS AGREEMENT]





 









 





	 	 	 	 	 
	 	SPECIAL VALUE OPPORTUNITIES FUND, LLC

 	 
	 
	 	By:  	Tennenbaum Capital Partners, LLC,
 	 
	 	 	its Investment Manager 	 
	 	 	 	 
	 	 	 
	 	By:  	                                 /s/ Michael Leitner
 	 
	 	 	Name:  	Michael Leitner 	 
	 	 	Title:  	Managing Partner 	 



[REGISTRATION RIGHTS AGREEMENT]





 









 





	 	 	 	 	 
	 	SPECIAL VALUE EXPANSION FUND, LLC

 	 
	 
	 	By:  	Tennenbaum Capital Partners, LLC,
 	 
	 	 	its Investment Manager 	 
	 
	 	 	 
	 	By:  	               /s/ Michael Leitner
 	 
	 	 	Name:  	Michael Leitner 	 
	 	 	Title:  	Managing Partner 	 



[REGISTRATION RIGHTS AGREEMENT]




 









 








	 	 	 	 	 
	 	SPECIAL VALUE CONTINUATION PARTNERS, LP

 	 
	 
	 	By:  	Tennenbaum Capital Partners, LLC,
 	 
	 	 	its Investment Manager 	 
	 	 	 	 
	 
	 	By:  	               /s/ Michael Leitner
 	 
	 	 	Name:  	Michael Leitner 	 
	 	 	Title:  	Managing Partner 	 



[REGISTRATION RIGHTS AGREEMENT]





 









 





	 	 	 	 	 
	 	TENNENBAUM OPPORTUNITIES PARTNERS V, LP

 	 
	 
	 	By:  	/s/ Michael Leitner
 	 
	 	 	Name:  	Michael Leitner 	 
	 	 	Title:  	Managing Partner 	 



[REGISTRATION RIGHTS AGREEMENT]





 











 





	 	 	 	 	 
	 	NEW YORK LIFE INVESTMENT MANAGEMENT MEZZANINE

PARTNERS, LP





By : NYLIM Mezzanine GenPar LP,

        its General Partner




By : NYLIM Mezzanine GenPar GP, LLC,

        its General Partner

 	 
	 
	 	By: 	/s/ James M. Barker V  
	 	 	Name: James M. Barker V 	 
	 	 	Title:   Authorized Signatory 	 



[REGISTRATION RIGHTS AGREEMENT]




 









 





	 	 	 	 	 
	 	NYLIM MEZZANINE PARTNERS PARALLEL FUND, LP





By : NYLIM Mezzanine GenPar LP,

        its General Partner





By : NYLIM Mezzanine GenPar GP, LLC,

        its General Partner

 	 
	 
	 	By: 	/s/ James M. Barker V
	 	 	Name: James M. Barker V 	 
	 	 	Title:   Authorized Signatory 	 



[REGISTRATION RIGHTS AGREEMENT]




 









 

d



	 	 	 	 	 
	 	CANPARTNERS INVESMENTS IV, LLC

 	 
	 
	 	By: 	/s/ Mitch Julis
	 	 	Name: Mitch Julis 	 
	 	 	Title:   Authorized Signatory 	 



[REGISTRATION RIGHTS AGREEMENT]





 









 











	 	 	 	 	 
	 	 	 
	 	By: 	/s/ Karen Luly
	 	 	Name: Karen Luly 	 
	 	 	Title:  	 



[REGISTRATION RIGHTS AGREEMENT]





 









 








	 	 	 	 	 
	 	YAS BROADBAND VENTURES LLC

 	 
	 
	 	By: 	/s/ R. Yassini - Fard
	 	 	Name:  Rouzbeh Yassini - Fard	 
	 	 	Title:  President	 



[REGISTRATION RIGHTS AGREEMENT]





 












 

 



Schedule A




THE HOLDERS




	 	 	 	 	 	 	 
	 	 	Number of Shares of	 	 
	Name of Holder	 	Company Stock Held	 	Address of Holder
	Liberty Satellite, LLC
	 	 	1,837,182	 	 	12300 Liberty Blvd Englewood, CO 80112
	Intelsat USA Sales Corp.
	 	 	898,511	 	 	3400 International Drive, NW Washington, DC 20008
	National Rural Telecommuncations Cooperative
	 	 	449,256	 	 	2121 Cooperative Way Herndon, VA 20171
	KPCB Holdings Inc., as nominee
	 	 	179,967	 	 	2750 Sand Hill Rd. Menlo Park, CA 94025
	Special Value Opportunities Fund, LLC
	 	 	317,977	 	 	2951 28th St., Suite 1000  Santa Monica, CA 90405
	Special Value Expansion Fund, LLC
	 	 	134,144	 	 	2951 28th St., Suite 1000 Santa Monica, CA 90405
	Special Value Continuation Partners, LP
	 	 	177,476	 	 	2951 28th St., Suite 1000 Santa Monica, CA 90405
	Tennenbaum Opportunities Partners V, LP
	 	 	198,923	 	 	2951 28th St., Suite 1000 Santa Monica, CA 90405
	New York Life Investment Management Mezzanine Partners, LP
	 	 	25,881	 	 	51 Madison Ave., 16th Floor New York, NY 10010
	NYLIM Mezzanine Partners Parallel Fund, LP
	 	 	11,944	 	 	51 Madison Ave., 16th Floor New York, NY 10010
	CanPartners Investments IV, LLC
	 	 	54,437	 	 	9665 Wilshire Blvd, Suite 200 Beverly Hills, California 90212
	Karen Luly
	 	 	400	 	 	7283 S. Fillmore Circle Centennial, CO 80122
	YAS Broadband Ventures LLC
	 	 	152	 	 	79 Newbury St. Boston, MA 02116
	Total
	 	 	4,286,250	 	 	 






[REGISTRATION RIGHTS AGREEMENT]